The firm operates surface coal mines under long-term contracts for power generation companies. In mid-May, the company declared a quarterly dividend of $0.2075 per share, an increase of more than 5% from the previous dividend of $0.1975 per share. In the past eight years, the payouts have registered consistent growth. The company has an impressive dividend history stretching back more than thirty-five years. (NYSE:NC) engages in the natural resources business. For investors who want to ride this boom for the coal sector, but do not want to opt for expensive options, there are many coal stocks trading at relatively cheap prices which offer the same bang for the buck.Ĭopyright: vyacheslavsvetlichnyy / 123RF Stock Photo Cheap Coal Stocks to Buy Now 10. A ban on Russian coal imports in Europe will benefit American coal miners. Coal consumption in India and the European Union is expected to rise by 7% in 2022.
This has led to a coal shortage, giving a boost to coal stocks. The soaring prices have forced many countries to switch to coal, including manufacturing hubs in China and India. Rising gas prices, which have benefited energy giants like Exxon Mobil Corporation (NYSE: XOM ), Chevron Corporation (NYSE: CVX ), and ConocoPhillips (NYSE: COP ), are another reason for the bullish near-term outlook for coal. The agency expects next year to be even better for coal firms with regards to consumption. This is the highest consumption of the resource since 2013.
Coal consumption around the world is also expected to rise in 2022 due to soaring energy prices as countries look for alternatives to fossil fuels.Īccording to a report by the International Energy Agency, global coal consumption is forecast to rise by 0.7% in 2022 to 8 billion tons. The economy of the country is now recovering from the lockdowns that brought manufacturing to a standstill. One of the main reasons for this uncertainty was demand issues from China. Slowing economic growth and energy market turbulence have added to the uncertainty around coal stocks in recent months, hitting a market that was already in turmoil due to environmental concerns and pandemic shocks. If you want to read about some more cheap coal stocks to buy now, go directly to 5 Cheap Coal Stocks to Buy Now. In this article, we discuss 10 cheap coal stocks to buy now.
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